IoT this. IoT that. Having been onboard with IoT for a couple of years now (and IoT only being a couple of years old in practical terms), we’re amused by the proliferation of IoT into every aspect of our lives.
Cars, shopping, dining, home smarts, hacker opportunities, you name it, if it walks, talks or even knows how to identify a duck it’s going to have some sort of IoT capacity.
Bottom line… IoT is good. But it’s not everything. It’s not going to revolutionize the profit margins and marketing plans of every industry on the face of the earth.
With that said, here’s an article to make sure we know that retail is IoT and well. Or is that IoT, and well, you see what we mean.
In fact, a new eMarketer report — “The Internet of Retail Things: What Marketers Need to Know” — shows that IoT is delivering many new opportunities for retailers. And 54 percent of retailers worldwide with above-average sales growth said they believed IoT could substantially change the way companies do business in the next three years.
“Studies that have assessed the market size and growth potential for the retail IoT agree that retailers are already making substantial investments, especially in the areas of supply chain monitoring, inventory management, asset tracking, and payments processing,” reports eMarketer. “While adoption is still in its early stages, it will continue to increase as technology becomes less expensive and more reliable.”
We shall see how this pans out. There’s a ton of potential certainly, but the kinks that need to be worked out for that kind of large scale deployment make the moon missions look easy.